On Sept. 26, 2025, DB Insurance Co. Ltd. (DBI) announced an agreement to purchase a 100% stake in U.S.-based specialty insurer The Fortegra Group Inc. (unrated). We expect that DBI's strong capital adequacy can absorb pressure stemming from the potential acquisition. The acquisition is part of DBI's global business expansion strategy. We affirmed our 'A+' long-term issuer credit and financial strength ratings on DBI. The outlook remains stable, reflecting our view that the proposed acquisition will not significantly undermine the insurer's capitalization or financial performance over the next two years at least. On Oct. 2, 2025, S&P Global Ratings affirmed its 'A+' long-term insurer financial strength and issuer credit ratings on Korea-based DB Insurance Co. Ltd. (DBI). The outlook on
